Frontdoor (NASDAQ:FTDR) Rating Increased to Strong-Buy at Benchmark

Benchmark upgraded shares of Frontdoor (NASDAQ:FTDR) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently commented on FTDR. The Goldman Sachs Group upgraded Frontdoor from a “sell” rating to a “neutral” rating and upped their target price for the company from $50.00 to $67.00 in a report on Monday, March 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Frontdoor in a research report on Thursday, February 26th. Wall Street Zen cut shares of Frontdoor from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings raised shares of Frontdoor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Truist Financial set a $71.00 price objective on Frontdoor in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Frontdoor Stock Performance

Frontdoor stock opened at $55.84 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 4.73. The firm has a market cap of $3.94 billion, a P/E ratio of 16.38 and a beta of 1.31. Frontdoor has a 1-year low of $35.61 and a 1-year high of $70.77. The firm has a 50-day moving average of $60.05 and a 200-day moving average of $60.14.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Frontdoor had a return on equity of 120.79% and a net margin of 12.18%.The business had revenue of $433.00 million during the quarter, compared to analyst estimates of $421.62 million. During the same quarter in the prior year, the company posted $0.27 EPS. Frontdoor’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts expect that Frontdoor will post 3.07 EPS for the current year.

Institutional Investors Weigh In On Frontdoor

Hedge funds have recently bought and sold shares of the business. Private Trust Co. NA increased its stake in shares of Frontdoor by 256.3% during the fourth quarter. Private Trust Co. NA now owns 563 shares of the company’s stock valued at $32,000 after purchasing an additional 405 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Frontdoor in the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its position in Frontdoor by 164.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 799 shares of the company’s stock valued at $47,000 after buying an additional 497 shares in the last quarter. Quarry LP raised its stake in Frontdoor by 429.5% during the third quarter. Quarry LP now owns 879 shares of the company’s stock valued at $59,000 after buying an additional 713 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Frontdoor by 8,376.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock worth $64,000 after acquiring an additional 1,089 shares in the last quarter.

Frontdoor Company Profile

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.